If you think Canon is hurting, the others are in much worse shape. Check out Nikon's huge plummet in sales (78%). And Sony lost $15 million, so any profit at all would look good to them.

Aye, kind of a sad state of affairs for the industry, not just Canon. Competition among these competitors is a very good thing, but I guess I'm a little bummed Canon came out so good relatively speaking...probably means they won't compete as hard as they might otherwise have if they lost more business to Nikon.

LMAO. Some time ago I stated on this forum that Canon's pricing for 5DMKIII was fundamentally wrong. Some disagreed. I'll say it again: a quick cash grab from early adopters is not a good strategy in the long run. Not with this product and not in this market. This year could be different for Canon's dslr sales if their marketing folks paid attention to what was happening (and still happening) on today's market. Fans can be loyal, but they are not necessarily dumb. (I'm obviously not talking about the pros who's 5DMKIIIs made a ton of $$ for them since purchase.)

LMAO. Some time ago I stated on this forum that Canon's pricing for 5DMKIII was fundamentally wrong. Some disagreed. I'll say it again: a quick cash grab from early adopters is not a good strategy in the long run.

Right, that's what did it...too high a price (in your opinion) on one product in their portfolio. LMAO, indeed. I rather think the situation is slightly more complex...

Sorry, I quoted the Sony figure, Nikon Profit was down 48.6%, Sony did not report a drop in profit by %, just in sales.Virtually all of the drop was in imaging products, but then, thats most of their business. This was for the quarter ending june 30, a new report is expected soon. expect worse figures.http://www.nikon.com/about/ir/ir_library/result/index.htm

everyone thinks that they are a business expert all of a sudden now that these numbers came out.

one of the biggest problems is that Canon is based in a country whose currency is rising compared to the markets where they sell products. that means that even if they sold the exact same amount of everything, and spent the exact same amount they would still pull in less revenue and less profit. on top of that, the world economy is down which means less disposable for most consumers and less business to business sales. together, that equals less sales. to top it all off, smartphones are completely eating up the point and shoot market.

people - canon is not taking huge hits because you think the new 5d cost too much. its not because you think the 24-70 costs too much. these prices are very equal to what their predecessors were in terms of japanese currency - but now the rest of the world's is worth less compared to what it was, so things cost more. also, canon sells a lot more than just 5Diii's and 24-70 ii's...

In just my opinion? Seriously? With all the price fluctuations up to $750 (and even more if you consider Canadian prices) in just a few months after the release? With D800 $3K price at release? Any idea why there are no similar price drops on D800?

So $3800 Canadian or even $3500 US pricing was reasonable in your opinion?

Neuro, I respect your posts on this forum and your knowledge, but I struggle to understand you on this one.

everyone thinks that they are a business expert all of a sudden now that these numbers came out.

one of the biggest problems is that Canon is based in a country whose currency is rising compared to the markets where they sell products. that means that even if they sold the exact same amount of everything, and spent the exact same amount they would still pull in less revenue and less profit. on top of that, the world economy is down which means less disposable for most consumers and less business to business sales. together, that equals less sales. to top it all off, smartphones are completely eating up the point and shoot market.

people - canon is not taking huge hits because you think the new 5d cost too much. its not because you think the 24-70 costs too much. these prices are very equal to what their predecessors were in terms of japanese currency - but now the rest of the world's is worth less compared to what it was, so things cost more. also, canon sells a lot more than just 5Diii's and 24-70 ii's...

trowski

Another thing to remember is that cameras don't even account for 50% of Canon's revenue. They actually make more money from printers. Therefore I don't think any slightly reduced sales of the 5DIII or 24-70mm II due to price would significantly reduce their overall revenue or profit. Compared to the line of Rebels, the 5DIII and 1DX are low-volume products. Part of the reason for the very high prices on things like the 5DIII, 1DX, and line of super-telephotos is to make up for low-volume.

I would also say the slow in sales of point-and-shoot cameras has a lot to do with the improvement of smartphone cameras. While I'm sure the economy is playing a role in decreased sales, basic point-and-shoot cameras are largely on their way out.

Plus there's the whole yen vs. dollar issue, which certainly doesn't help them keep prices low in the U.S. and other places to help increase sales.